On January 1, 2019, Parflex Corporation exchanged $344,000 cash for 90 percent of Eagle Corporations outstanding voting stock. Eagles acquisition date balance sheet follows:

Cash and receivables	$	15,000		Liabilities	$	76,000
Inventory		35,000		Common stock		150,000
Property and equipment (net)		350,000		Retained earnings		174,000
	$	400,000			$	400,000

On January 1, 2019, Parflex prepared the following fair-value allocation schedule:

Consideration transferred by Parflex	$	344,000
10% noncontrolling interest fair value		36,000
Fair value of Eagle		380,000
Book value of Eagle		324,000
Excess fair over book value		56,000
to equipment (undervalued, remaining life of 9 years)		18,000
to goodwill (indefinite life)	$	38,000

The companies financial statements for the year ending December 31, 2021, follow:

	Parflex				Eagle
Sales	$	(862,000	)		$	(366,000	)
Cost of goods sold		515,000				209,000
Depreciation expense		191,200				67,000
Equity in Eagle's earnings		(79,200	)			0
Separate company net income	$	(235,000	)		$	(90,000	)
Retained earnings 1/1	$	(500,000	)		$	(278,000	)
Net income		(235,000	)			(90,000	)
Dividends declared		130,000				27,000
Retained earnings 12/31	$	(605,000	)		$	(341,000	)
Cash and receivables	$	135,000			$	82,000
Inventory		255,000				136,000
Investment in Eagle		488,900				0
Property and equipment (net)		964,000				328,000
Total assets	$	1,842,900			$	546,000
Liabilities	$	(722,900	)		$	(55,000	)
Common stockParflex		(515,000	)			0
Common stockEagle		0				(150,000	)
Retained earnings 12/31		(605,000	)			(341,000	)
Total liabilities and owners' equity	$	(1,842,900	)		$	(546,000	)

At year-end, there were no intra-entity receivables or payables.

1. Compute the goodwill allocation to the controlling and noncontrolling interest.

2. Show how Parflex determined its Investment in Eagle account balance.

3. Determine the amounts that should appear on Parflexs December 31, 2021, consolidated statement of financial position and its 2021 consolidated income statement.

A not Complete the below 10 Boints Required A Required B Requined c Determine the amounts the should appear on parflex's December 21, 2021, consolidated statement of financial position and i 2021 consolidated income statement, Norscount where multiple consolidation entries are required: combine all debuntes in one amount and enter this amount in the debit column of the worksheet. Samlarly combine all credit entries into one amount and enter the amount in the credit column of the worksheet. input all amounts as positive values.) BARENGORPORATON AND EAGLE CORPORATION Gun Forlendin Dube 18120122 Ames Elimination De cre Noncontrolling interest Parties 15 (862,000) SI5.000 HEILA S866,000) 200 OLD Booom 2020 Sales Cost of goods sold Depreciation expense Equity in Eagle tamen Separate company net. Cando Total s (1,228,000) 724.000 2150.200 0 600 ISE.CO 619.2001 5 (235.099 2.000 79200 oh 1920.000 re 8,033 240900 8 800 235.000 S500 000 209.000 al 1500 000 Consoldated net income. bancongres Parlikarporation Fietained esmings BE NET Driends Retained on 1231 Casi and new inventy 278.00 190.000 200 31 baan 235.000 130,000 24.300 1235.000 120.000 1 160.000 das. 2.000 16.00 bar 21000 CO BC US SEO LINK 310000 THERN 1100 24200 @ 24.000 5138 2000 ERBO 11 co BACO co Pynt Co w Total Lin .. man toch 2000 BISHO DI NU 59/CEE ROOM 15 200 SHO RE HAN LES HO